Vietnam's aquatic product exports projected to reach US$8.4 billion

ABO/NDO - Vietnam's aquatic product exports are forecast to rake in US$8.4 billion this year, equivalent to the figure in 2020, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The association said there is large room for seafood exports, but the sector has faced many difficulties caused by the COVID-19 pandemic over the last three months.

The export value of shrimp is predicted to reach about US$3.8 billion, up 3 percent year on year. Meanwhile, the export of tra fish is likely to earn US$1.5 billion, equal to last year's turnover, and seafood exports are predicted to drop 3 percent to US$3.1 billion.

Processing fish fillets for export at Sao Mai Seafood (Photo: VNA).

According to VASEP Vice Secretary General Nguyen Hoai Nam, seafood production and exports will recover slowly and continue to face difficulties until the end of the year due to a lack of raw materials and labourers, and an increase in costs of labour, transport, and COVID-19 prevention.

The ratio of workers vaccinated against COVID-19 in provinces with a thriving fishery industry remains low, he noted, adding that the localities should give priority to increasing the vaccine coverage for workers in seafood production chains.

In the coming time, it is necessary to effectively and practically implement mechanisms and policies to support workers, especially those related to social insurance, unemployment insurance, and trade union, Nam said.

He suggested authorities continue to support enterprises in accessing new loans, reschedule debt repayments, reduce interest rates and issue mechanisms to stabilise prices and production costs.

(Source: NDO)